Weekly Trading Diary: 13th May to 17th May 2024

Welcome to the weekly trading diary, a thread for discussing your trades, strategies, ideas, news, stories, etc.


Benchmark indices bounced back from intraday lows to close higher for the second consecutive session, driven by buying in heavyweight stocks. US futures are trading slightly higher.

:oil_drum:Brent Crude: 83.00 0.29%
:heavy_dollar_sign:USD INR Spot: 83.519 -0.03%.
:scroll:India 10Y Bond yield: 7.118 -0.13%

Nifty 50 heat map.

More stats at: technicals.zerodha.com

Amongst the F&O stocks

:chart_with_upwards_trend: ABB was the top gainer.

:chart_with_downwards_trend: Tata Motors was the top loser.

:page_with_curl: Earnings Update:

Zomato: Net Profit: Rs. 175 cr​:arrow_up: 192.59% YoY; Revenue: Rs. 3,562 cr :arrow_up: 73.2% YoY.

BEML: Net Profit: Rs. 256.08 cr :arrow_up: 62.9% YoY: Revenue: Rs. 1,513.65 cr :arrow_up: 9.1 % YoY.

JK Cement: Net Profit: Rs. 219.68 cr :arrow_up: 104.7 % YoY: Revenue: Rs. 3,105.8 cr :arrow_up: 11.8% YoY.

UPL: Net Profit: Rs. 40 cr :arrow_down: 94.9 % YoY; Revenue: Rs. 14,078 cr :arrow_down:15 % YoY.

Varun Beverages: Net Profit: Rs. 547.98 cr :arrow_up:24.9 % YoY: Revenue: Rs. 4,397.98 cr​:arrow_up: 11.3% YoY.

:newspaper: News

India’s coal imports surged by 7.7% to 268.24 million tonnes (MT) in FY24, attributed to lower seaborne prices and the anticipated rise in power demand during summer, compared to 249.06 MT in FY23, as per data from B2B e-commerce firm mjunction services.

Maruti Suzuki India shareholders greenlit the issuance of shares to Suzuki Motor Corporation for acquiring a 100% stake in Suzuki Motor Gujarat.

Escorts Kubota Ltd intends to invest up to Rs 4,500 crore in the next three to four years for a new manufacturing plant in Ghiloth, Rajasthan, aiming to double its domestic tractor production capacity and expand into engine and construction equipment lines.

CONCOR has initiated the rail evacuation of direct port delivery containers from Jawaharlal Nehru port, a pioneering move to ease terminal gate congestion, provide an eco-friendly alternative to road transport, and lower emissions.

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Nifty and Sensex closed up around 0.5%, following broader market advances with Nifty Midcap and Nifty Smallcap gaining 0.94% and 1.76%, respectively. US futures point to a muted start.

:oil_drum:Brent Crude: 83.44 0.10%
:heavy_dollar_sign:USD INR Spot: 83.513 0.01%.
:scroll:India 10Y Bond yield: 7.111 -0.07%

Nifty 50 heat map.

More stats at: technicals.zerodha.com

Amongst the F&O stocks

:chart_with_upwards_trend: National Aluminium Company was the top gainer.

:chart_with_downwards_trend: UPL was the top loser.

:page_with_curl: Earnings Update:

Apar Industries: Net Profit: Rs. 236.1 cr :arrow_down: 2.7 % YoY; Revenue: Rs. 4455 cr :arrow_up: 9.1% YoY.

Bajaj Electricals: Net Profit: Rs. 29.31 cr :arrow_down: 43.5% YoY; Revenue: Rs. 1188.08 cr :arrow_down: 8% YoY.

Devyani International: Net Loss: Rs. 7.47 cr :arrow_down: 112.2 % YoY; Revenue: Rs. 1047.08 cr​:arrow_up: 38.7% YoY.

Jubilant Ingrevia: Net Profit: Rs. 29.25 cr :arrow_down: 44.1% YoY; Revenue: Rs. 1074.44 cr :arrow_down: 6.2% YoY.

PVR INOX: Net Profit: Rs. 129.50 cr :arrow_down: 61.1 % YoY; Revenue: Rs. 1256.40 cr :arrow_up: 9.9 % YoY.

Zydus Wellness: Net Profit: Rs. 150.30 cr :arrow_up: 3.4 % YoY; Revenue: Rs. 782.60 cr :arrow_up: 9.8% YoY.

:newspaper: News

India’s diesel exports to Europe dropped by 20% in April to 210,000 barrels per day (BPD) from 262,000 BPD in March due to increased competition and softening demand, per Vortexa.

IndiGo is in discussions with ATR, Embraer, and Airbus to order at least 100 smaller planes for its regional network expansion. The airline operates 45 ATR-72 planes and expects five more this year.

Dabur has temporarily suspended production at its manufacturing units until March, except for essential products like ayurvedic medicines, Chyawanprash, hand sanitizers, and hand washes.

ITC completed the Rs 2,150 crore acquisition of Sunrise Foods, enhancing its packaged foods division and spices business, leveraging synergies in sourcing and supply chain from its agri-business arm.

An investor group led by Blackstone, including Abu Dhabi Investment Authority and GIC of Singapore, has made a non-binding bid to acquire a 74-76% stake in Haldiram Snacks, valuing it at $8-8.5 billion.

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Benchmark indexes surged in the final hour, closing with nearly 1% gains, driven by buying in HDFC Bank, Infosys, and positive global cues. Dow and Nasdaq futures are showing mixed trends.

:oil_drum:Brent Crude: 82.47 -0.34%
:heavy_dollar_sign:USD INR Spot: 83.497 0.10%.
:scroll:India 10Y Bond yield: 7.079 -0.11%

Nifty 50 heat map.

More stats at: technicals.zerodha.com

Amongst the F&O stocks

:chart_with_upwards_trend: HAL was the top gainer.

:chart_with_downwards_trend: Bandhan Bank was the top loser.

:page_with_curl: Earnings Update:

Crompton Greaves: Net Profit: Rs. 133.43cr :arrow_down: 1.43 % YoY; Revenue: Rs. 1961 cr​:arrow_up: 9.49% YoY.

GAIL India: Net Profit: Rs. 2176.97 cr :arrow_up:260.68% YoY: Revenue: Rs 32,334 cr :arrow_down: 2% YoY.

HAL: Net Profit: Rs. 4308 cr :arrow_up: 52% YoY; Revenue: Rs. 14768.70 cr :arrow_up: 18% YoY.

Info Edge: Net Profit: Rs. 879.60 cr :arrow_up: 117.39% YoY; Revenue: Rs 608.3 cr :arrow_up: 7.9% YoY

Mahindra & Mahindra: Net Profit: Rs. 2038 cr :arrow_up: 32% YoY; Revenue: Rs. 25,108.97 cr :arrow_up:11.24% YoY.

:newspaper: News

Bain Capital and Singapore’s Temasek have partnered to compete with Blackstone for a controlling stake in Haldiram Snacks, submitting a non-binding offer valuing the company at $8-8.5 billion (Rs 66,400-70,500 crore), the Economic Times reported.

The number of international passengers on Indian carriers passing through the major Indian airports of Delhi, Mumbai, Kolkata, Chennai, Bengaluru, and Hyderabad rose by 97.09% year-on-year to 68,305 in February, according to Cirium, an aviation analytics firm.

The assets under management of gold ETFs rose by 43% to Rs 32,789 crore in the past 12 months, with folio count reaching 5.1 million, according to AMFI. Despite this growth, the funds saw a net outflow of Rs 395 crore in April compared to net inflows of Rs 5,248 crore in 2023-24.

The government reduced the windfall gains tax on domestically produced crude from Rs 8,400 to Rs 5,700 per tonne. The export duty on petrol, diesel, and aviation turbine fuel (ATF) remains nil, with the new rates effective May 16, 2024, according to the Central Board of Indirect Taxes and Customs (CBIC).

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Benchmark indexes climbed for a second day, rising around 0.3% amid mixed global cues. Dow and Nasdaq futures are showing mixed trends.

:oil_drum:Brent Crude: 82.41 0.18%
:heavy_dollar_sign:USD INR Spot: 83.336 -0.17%.
:scroll:India 10Y Bond yield: 7.094 0.25%

Nifty 50 heat map.

More stats at: technicals.zerodha.com

Amongst the F&O stocks

:chart_with_upwards_trend: Crompton Greaves Consumer Electricals was the top gainer.

:chart_with_downwards_trend: Mphasis was the top loser.

:page_with_curl: Earnings Update:

GlaxoSmithKline Pharma: Net Profit: Rs. 193.08 cr :arrow_up:46.88% YoY; Revenue: Rs. 930 cr :arrow_up:18% YoY.

JSW Steel: Net Profit: Rs. 1299 cr​:arrow_down: 64.7% YoY; Revenue: Rs. 46,269 cr :arrow_down:1.48% YoY.

Zydus Lifesciences: Net Profit: Rs. 1182.3 cr :arrow_up:298.6% YoY: Revenue: Rs 5533.8 cr​:arrow_up: 10.44% YoY.

:newspaper: News

Silver prices surged to an all-time high, nearing Rs 90,000 a kg, climbing over Rs 2,000 (nearly 4%) in a single session to Rs 87,476 a kg. Within a month, silver prices have increased by more than 5%, leading to annualized gains of around 60%.

Sales of entry-level two-wheelers, mainly purchased by rural consumers, rose in high double digits in the second half of 2023-24, showing a demand recovery. This trend continued in April, driven by improved income levels.

Vedanta’s board has approved raising up to Rs 8,500 crore through securities like US depository receipts, global depository receipts, and foreign currency convertible bonds, subject to regulatory approvals.

GAIL (India) Ltd, India’s largest gas utility, has hired a new LNG carrier from New York Stock Exchange-listed Cool Company Ltd for 14 years, starting early 2025, at an undisclosed daily rate.

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